Savannah City Plans to Keep Tax Rate Lowest Since 1987 | News | Savannah News, Events, Restaurants and Music

The City of Savannah will consider adopting a 12.2 mill tax rate in 2024. A 12.2 mill tax rate is unchanged from the tax rate adopted in 2023 and is also the same tax rate used to develop the city’s 2024 budget plan. By maintaining the tax rate at 12.2 mills, the city will maintain the lowest property tax rate since 1987.

As required by state law, this press release serves as notice that the Mayor and Aldermen of the City of Savannah are considering adopting a tax rate that will require a 9.00% increase in property taxes over the reduced tax rate for properties that have appreciated in value and have not obtained a Stephens-Day exemption. The 9.00% increase over the reduced tax rate will be equal to the 2023 adopted tax rate of 12.2 mills.

In preparing the total taxable property summary, Georgia law requires that a retroactive millage rate be calculated that will produce the same total income on the current year summary as last year’s millage rate would have produced if no reassessment had occurred. The proposed millage rate of 12.2 mills represents an increase of 1.004 mills over the retroactive millage rate of 11.196 mills. The proposed tax increase for a home that does not qualify for the Stephens-Day exemption with a fair market value of $100,000 is approximately $40.16 and the proposed tax increase for a non-Stephens-Day exempt property with a fair market value of $500,000 is approximately $200.80.

Georgia law requires the city to advertise the 12.2 rate as a tax “increase” because the reduction rate may not be adopted. While the projected revenue from this rate is higher than the reduction rate, the proposed rate itself remains unchanged from 2023, as shown in the chart below. The proposed levy rate of 12.2 mills represents the continuation of the lowest tax rate since 1987.

If the City Council decides to adopt the 12.2 rate, Georgia law requires three public hearings to allow the public to express its opinion on the increase versus the reduction rate.

All concerned citizens are invited to the public hearings on the property tax rate at City Hall, located at 2 Bay Street East, on Thursday, July 11 at 10:00 a.m. or 6:00 p.m. or on Thursday, July 25 at 2:00 p.m.

The public can provide feedback in two ways:

Anyone wishing to speak on this agenda item may submit evidence, including written comments, to (protected email) or by calling (912) 651-6441. Written comments become public and are shared with the Mayor and Aldermen prior to the Council meeting.
Members of the public can visit the Council Chamber at City Hall to share their thoughts with City Council.

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